Top Exchanges have up to 99% Fake Volume!
"It’s not uncommon to see exchanges seemingly appear overnight with top volume on coinmarket cap. Within a week, exchanges can be quickly be pumped up to the top ten list. How is this so? The most common answer is wash trading. Wash trading can make an exchange look better by appearing higher in ranking list which can attract higher listing fees and potentially more customers. It can also involve schemes with trade mining. However, how much value is there when 99% of volume is washed?
As you can see here, exchanges like Binance, Bitfinex have pretty much 100% real volume.
This is in stark contrast to exchanges like Coinbene and DigiFinex which show to have close to 99% FAKE volume!
Here are more exchanges with their estimated API trading volume, which is a rough indicator of how much is being washed. Of course, some API trading can be real too. So the next time you consider an exchange, think about how much of their volume is real?"
Source: https://www.blockchaintransparency.org/
See Full Post Here: https://web.cbnt.io/article/15517653115146
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